so what is with oil?

Can we all go back to driving big SUV’s? Was all the “peak oil” stuff just a bunch of crap? Don’t believe it. The latest fundamental supply/demand numbers show that oil has peaked. The prices reflect the deleveraging of the financial system. When the people have to generate cash quickly, they sell what liquid assets they have. commodities sell. So prices are down. But demand/supply have not changed. We are still tight. We have overcorrected in price. I predict > $100/barrel by next summer.